El Salvador Launches Sivar App for Low-Cost Remittances via Base

The government of El Salvador and startup Modveon have launched Sivar, a national mobile application that enables U.S. residents to send remittances to verified Salvadoran users for a flat $2 fee. The transfers are processed as stablecoins on Coinbase’s Base blockchain. Modveon, which secured a five-year contract with the Bitcoin Fund Management Agency (AAB), utilizes Coinbase infrastructure to facilitate payments, including non-custodial wallets and cash withdrawal options at over 1,000 locations. The app also features community engagement tools and identity verification via the national DUI card.